In August, mortgage loans alone in the banking sector increased by 7 trillion won, and the balance of household loans reached an all-time high of 1,075 trillion won. This is the result of the Yoon Suk Yeol government easing household loan regulations to induce a rise in real estate prices despite difficult situations due to high interest rates. As a result, rumors of a September crisis have emerged as the risk of insolvency has increased in the secondary financial sector. The government has vowed that there will be no crisis in September, but indicators warn that the crisis is approaching. According to the Bank of Korea’s “Financial Market Trends in August,” the balance of household loans (including policy mortgage loans) at deposit banks reached 1,075 trillion won as of the end of August, setting a new record following the previous month.The size of household loans has already exceeded the dangerous level. If we don’t work to change the situation, the whole economy could collapse. In many cases, it has become impossible to repay loans, and there have been many cases where interest is not paid and overdue. This naturally leads to bad banks. The government may take suspension measures to prevent household bankruptcy, but this is not a solution. I’ll just spin a bomb that will explode someday. The question now is when household bankruptcy will begin and how much bank insolvency will result.The Financial Services Commission held a meeting with related institutions presided over by Secretary-General Lee Se-hoon to strengthen the management of “50-year mortgage loans,” which are considered the main culprits of the increase in household loans.It is important that the Financial Services Commission held a meeting to manage mortgage loans. This means that the Financial Services Commission is accepting the crisis. It started by strengthening the management of mortgage loans for 50 years. The basic guideline is to check the repayment ability and decide on loan approval. This is a very common sense measure. Loans must be determined by their ability to repay. However, now the loan has been approved without checking its repayment ability. In the case of Internet banks, repayment ability is not checked for products aimed at young people and products aimed at multi-child households. This naturally leads to insolvency of banks. The government has also decided to reduce the scope of loans for special Bogeumjari loans, which were launched temporarily this year, in order to reduce the burden of household housing costs. Among the special Bogeumjari loans, the supply of “general type,” which corresponds to cases where housing prices exceed 600 million won or couples’ combined income exceeds 100 million won, will be suspended from the 27th.The government has also decided to reduce the scope of loans for special Bogeumjari loans launched in the name of reducing the burden of household housing costs. It is desirable to reduce the burden of housing costs on households. But solving this with a simple loan is a stupid way. In order to reduce the burden of household housing costs, real estate prices should be stabilized, not easy loans. Simplifying loans will boost real estate prices and increase housing costs. The reason why the government, which cannot be unaware of this, uses such a policy is to deceive. Pretending to be for the common people, they put the common people in a swamp of debt so that they can’t get out of it. As a result, it is good for the wealthy who make a living on real estate.black_with, unsplash, ★★The financial authorities’ move is based on the judgment that the banking sector has easily allowed mortgage loans so far. The most important thing in household debt management is to consistently and steadily continue the basic principle of “borrowing within the repayment capacity and repaying it in installments.”In order to correct the loose form of loans that emerged in the process of handling 50-year loans, the banking sector needs to play a role in closely checking borrowers’ repayment possibilities and carefully managing them so that they do not lead to excessive loansA loan must take into account its solvency. Otherwise, the government must guarantee it. The amount of loans guaranteed by the government is also limited. The amount of loans cannot be increased indefinitely. This is because the scale that the government can guarantee has been decided. It is dangerous if the size of the loan grows enough to escape the government’s ability. Currently, Korea’s household debt exceeds the risk level. It’s like a time bomb that doesn’t know when it will explode.stravekc, 처출 unsplashstravekc, 처출 unsplash